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By Oliver R. Hoor and Georges Bock*
In mid-May, France 2 and the BBC broadcast programs (Cash Investigation and Panorama) aimed at classifying Luxembourg as a tax haven. A common feature of both programs was that spectators were mislead through the selective use of facts, a general lack of context and the use of stereotypes. This article attempts to shed light on the complex topic of international tax planning and analyses the importance of substance and arms length conditions in this respect.
1. Introduction
When investing in a cross-border context, individuals and enterprises are regularly subject to tax in different jurisdictions. Taxpayers therefore have to cope with inconsistent and complex...
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